Angela Merkel was the first to signal a willingness to lower EU (or at least German) tariffs on cars from the U.S. and perhaps she used her enormous influence to arm Mr. Junckers with that offering. Yet US car sales in Europe are hardly a make-or-break for US manufacturers from US plants; they are not big sellers. US plants today tend to sell SUVs and pick-ups. Outside the US, pick-ups are typically made by Toyota. SUVs consume too much gasoline for the typical Euro driver, as gas can run to eight bucks a gallon (ouch!).
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Ternium (NYSE:TX) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.89. Ternium had a net margin of 11.58% and a return on equity of 21.81%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $0.99 earnings per share. Ternium’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Ternium will post 6.89 earnings per share for the current fiscal year.
Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets and pre-painted sheets, steel pipes and tubular products, beams, and roll formed products, as well as other products, such as pig iron.
It’s fair to note that while front-wheel drive has been the standard for front-engine cars for decades, rear-wheel drive in economy cars was never unusual on cars that didn’t have a heavy internal combustion engine up front. Europe in particularly used to be churning out RWD economy cars from the 1930s through the early-to-mid 1970s, before everyone went universally front-engine on applications like this one.
8 – Holocaust survivor Philip Riteman, who spent 30 years speaking to young people about his experience in concentration camps and ardently urging love over hate, died in Halifax at the age of 96.
10 – Ontario announced that effective Oct. 18, turban-wearing Sikhs would be allowed to ride motorcycles without helmets, joining three other provinces in providing the exemption. The Progressive Conservative government said the exemption recognized Sikh motorcycle riders’ civil rights and religious expression.
23 – The Liberal government faced new pressure to cancel a deal to sell armoured vehicles to Saudi Arabia amid international outrage over the killing of Saudi journalist Jamal Khashoggi. Prime Minister Justin Trudeau said he didn’t want to leave Canadians “holding a billion-dollar bill” by cancelling the controversial contract. Just days later Trudeau raised the cancellation cost to “in the billions.”
'The pipeline industry could face higher costs from tariffs as about 77 percent of the steel used in U.S. pipelines is imported, according to a 2017 study for the pipeline industry. Benchmark hot-rolled U.S. steel coil prices are up more than 50 percent from a year ago, according to S&P Global Platts.'
In January, the utility said it was “eagerly awaiting” Nersa’s (RfD), as it had expected to receive a minimum increase of 9% in terms of the tariff-setting methodology.
G7 Without Trump? Experts Say His Presence Needed Despite Tariff Fight | Galvanized Round/Square Mild Steel Pipe Related Video:
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